Reliance Defence exploring various biz opportunities

Reliance Defence and Engineering today said it is looking to exploit various opportunities in the defence industry, including in integrated solutions for naval ships.
"As part of the ongoing business development efforts, we are exploring various business opportunities offered by defence industry...," Reliance Defence and Engineering Ltd said in a filing to the BSE.
Reliance Defence was replying in response to the clarification sought by the exchange with regard to news item which said that the company was eyeing Rs 20,000 crore naval business.
The company further said that "...These business opportunities are sensitive in nature and hence, it will not be appropriate for us to offer specific comments on the same at this juncture."

It added that as and when specific proposals are received, considered and investment decisions are taken, culminating in execution of the necessary arrangements, resulting in reportable event, appropriate discloures will be made to the stock exchanges.